Skip to content
Read our Accessibility Statement
FALVEY MEMORIAL LIBRARY
FALVEY MEMORIAL LIBRARY
American Catholic Historical Society
Rules of "The Bishop's Bank." Records of the American Catholic Historical Society of Philadelphia. V...
Switch to old viewer
Rules of "The Bishop's Bank." Records of the American Catholic Historical Society of Philadelphia. Volume XXII. Pages 106-107.
American Catholic Historical Society of Philadelphia.
13 January 2016
Philadelphia : American Catholic Historical Society of Philadelphia
Catholica ACHS Records
Kenrick, Francis Patrick, 1798-1863.
Frenaye, Marc Antony, 1783-1873.
Banks and banking
Catholic Church. Archdiocese of Philadelphia (Pa.).
Disclaimer of Liability
Disclaimer of Endorsement
RULES OF “THE BlSHOP’S BANK.” In May of 1848 was opened “The BIsHoP’s BANK,” 35 it was familiarly called by the depositors. It was estab- lished by Bishop Kenrick to receive the‘ savings of the working Catholics of Philadelphia. It was managed 13)’ Mr. Mark Antony Frenaye, the financier of the Diocese- In 1855 he wrote Mrs. Aline Maguire, of Johnstown, Pa. 2 “We keep a kind of savings institution and I receive (16- posits and pay them out.” While managed by Mr. Frenaye, the following Rules were formulated by him for the direction of his assis- tants: Our Society is indebted to Mr. William I. Power for the copy herewith presented. RULES FOR RECEIVING DEPOSITS,-AND TO KEEP CREDIT GOOD- Office Hours to be posted up on the door, and strict punc- tuality in attendance. Always polite towards visitors. NCVCI a word of impatience ; bear all provocation. Perfect indifference in receiving or paying off. Never t0 offer uncurrent money ; but always Gold or City Notes at the choice of Depositors. Always keep money at home, say about $1000, (be5ideS public Stock bearing interest) and in Bank $2000. Be Dre‘ pared to pay all demands at sight; and when the funds 0“ hand are short, sell part of the Safety Fund : for this, emD10Y a Stock Broker. When there is in Bank a larger balance than is necessary: invest the surplus in Stock, which will increase the Safety Fund. Bear in mind that investments must always be made in stock of ready sale: City, or State of Pennsylvania. No Other; City is the best. County Stock is good, but of slow sale. Never purchase any other Stock. Beware of Banks, Canals: